FABM 2-Q2-WEEK 4

Taxation is the process by which our government, raises income to pay its necessary

• taxes

• expenses

• income

• assets

This is a kind of income received by employees working in different companies. This is often in the form of salaries, bonuses, and allowances.

• Police Power

• Passive Income

• Compensation Income

• Gross Income

The primary purpose of taxation is to provide the proper needed to run the government.

• expense

• compensation

• assets

• funding

This is the power of the government to take private property, upon payment of just compensation, to be used for a public purpose

• Police Power

• Eminent Domain

• Administrative Feasibility

• People Power

The power of the government to collect taxes, that will be used to finance the different projects needed by the people.

• Police Power

• Eminent Domain

• Administrative Feasibility

• Taxation